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Iran’s Mapna Group, a leader in construction and installation of energy production machinery, is building a natural gas combined cycle power plant in Basra, Iraq at a cost of $2.5 billion, a report said.
The project aims to

Iraq plans to export a record volume of crude from its southern ports in June, as it splits its production into two grades for the first time to resolve quality issues, trade sources familiar with the matter said.

Refiners in Asia are assessing the new Iraqi Basra Heavy crude after Iraq released the grade's assay to kick off marketing a month before the oil's launch, trade sources said.
The assay was made availab

Iraq has set the first monthly price for its new Basra Heavy crude for May, but has likely delayed the launch of the grade until the following month, according to industry sources.
The country's State Oil M

Iraq's plan to split a heavier crude being produced in its southern oilfields from its flagship grade should reduce quality issues dogging its exports, though there will be challenges getting the price it wants and setting up infrastructur

A backlog of over 30 oil tankers has built up outside the Iraqi port of Basra and shippers face lengthy delays of up to three weeks to load oil because of bad weather and possible oil quality issues, shipping industry sources said.

Iraq has given the green light for 60 new power projects worth $218 million to be built in the Basra governorate in its budget for 2015, reported Iraq Business News.
Basra approved a budget of $3.6 billion for 2015, but w

Iraq has given the green light for 60 new power projects worth $218 million to be built in the Basra governorate in its budget for 2015, reported Iraq Business News.
Basra approved a budget of $3.6 billion for 2015, but w

Egypt's state oil company signed an agreement to join Kuwait Energy in developing an oil field in southern Iraq, the company's first foray into upstream work outside of Egypt, the Egyptian oil minister said on Sunday.
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Iraq is building up debts to the oil companies developing its giant fields, industry sources said, a further sign of how the oil-price drop is putting a squeeze on revenues in Opec's second-largest producer.
Western oil compan